U.S. Prosecutors Are Pursuing Libor Convictions, Raman Says
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U.S. prosecutors are pursuing guilty pleas, criminal convictions and “significant monetary penalties” from banks and their employees in the global investigation into the rigging of benchmark interest rates, a senior Justice Department official said.
Mythili Raman, the acting head of the department’s criminal division, said authorities “are not done” with the wide-ranging probe that has led to resolutions with three international banks, including the Royal Bank of Scotland Group Plc in February, and criminal charges against two former UBS AG traders.